Two-Story Mixed-Use
For Sale
Contact for pricing
118 S Hershey Rd, Harrisburg, PA 17112
Flexible space supports residential, retail, or professional office use with additional basement functionality.
Property Size1,708 SF
Price / SF$200.23
Days on Market52
Property Features for 118 S Hershey Rd
General Information
Standard status
Active
Size
1,708 SF
Property subtype
OFFICE
Building Details
Buildings
1
Stories
2
Listing Agency:
NAI CIR | Lemoyne
(717) 761-5070
Listed By:
William M. Gladstone, CCIM, SIOR
(717) 319-9022
Source:
Moodyscre
Added: Jul 30
Changed: Sep 13
Last Checked: Sep 18 at 8:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI CIR | Lemoyne
Investment Insights
Based on property information with market context.
This 1,708-square-foot mixed-use property spans two stories and combines adaptable interior space with a partially finished basement. The configuration can accommodate residential living, retail activity, or professional office use, offering several ways to organize the existing footprint.
Located at 118 S Hershey Rd in Harrisburg, Pennsylvania, the property retains the character of a traditional home while providing space suited to a small business or office conversion. The basement adds room for storage, work areas, or future expansion within the existing building.
Located at 118 S Hershey Rd in Harrisburg, Pennsylvania, the property retains the character of a traditional home while providing space suited to a small business or office conversion. The basement adds room for storage, work areas, or future expansion within the existing building.
Key Highlights
- 1,708 square feet of flexible mixed‑use space
- Two‑story building configuration
- Partially finished basement provides additional functional space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,949
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,980
$439.0K
Cap Rate 7%
$313,557
$313.6K
Cap Rate 9%
$243,878
$243.9K
Market Conditions
NOI Build-Up for 1,708 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.2K $20.04/SF
− Vacancy
−$5.0K −$2.91/SF
EGI
$29.3K $17.13/SF
− OpEx
−$7.3K −$4.28/SF
NOI
$21.9K $12.85/SF
Area
Dauphin County, PA
Vacancy
14.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,980
Cap Rate 7%
$313,557
Cap Rate 9%
$243,878
Alternative Uses
Best Use
Office B
$313.6K
$274.4K – $365.8K
NOI $21,949 @ 7.0% cap · market cap 6.42%
Second Best
Mixed Use
$296.5K
$259.4K – $345.9K
NOI $20,752 @ 7.0% cap · market cap 6.07%
Theoretical Best
Specialty Retail
$3.15M
$2.75M – $3.67M
NOI $220,204 @ 7.0% cap · market cap 64.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 17112, PA
37,137
Population
16,026
Households
2.3
Avg Household Size
44
Median Age
44%
College-Educated
95%
High-School Grad
69.6 sq mi
ZIP Area
534
Density / Sq Mi
$101,784
Median Household Income
$55,056
Median Earnings
$1,400
Median Rent
$290,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible space supports residential, retail, or professional office use with additional basement functionality.
Where is this mixed-use property located?
The property is located at 118 S Hershey Rd Harrisburg, PA.
What is the asking price?
The asking price for this property is $342,000.
What are key features of this property?
This property features: 1,708 square feet of flexible mixed‑use space; Two‑story building configuration; Partially finished basement provides additional functional space
